Get Your Legislative News Delivered to You in New Orleans
Every year at the Fall Conference for Community Foundations, members of the Council’s government relations and legal team provide a legislative and regulatory update, including implications for the philanthropic sector. In addition, they offer tips on how to navigate the sometimes muddy political waters and discuss how community foundation colleagues are partnering at the federal, state, and local levels to promote positive philanthropic policies.
I’m sure you’re probably thinking, “So why should I attend the ‘Washington Update’ session this year? It’s probably the same old Washington, D.C., rhetoric.” Actually, this year is quite different. For starters, a proposal of relevance to the community foundation field—the IRA charitable rollover enacted as part of the Pension Protection Act of 2006—expired at the end of last year. This is the first time since 2006 that the provision has not been extended, and it is a clear indication that these are different political and economic times. The charitable rollover has traditionally been part of an annual “extenders package.” However, because lawmakers are consumed with deficit reduction efforts (and because temporary extenders proposals are costly), people are asking whether all of the extenders provisions are necessary.
The House Select Revenue Measures Subcommittee, which is part of the Ways and Means Committee with jurisdiction over the philanthropic sector, has already hosted two hearings on the extenders provisions. Subcommittee Chairman Pat Tiberi (R-Ohio) stressed that “the days of simply rubber-stamping the extenders package are behind us,” calling for each provision to be more stringently reviewed.
If the expiration of the IRA rollover isn’t reason enough to attend “Washington Update,” there is also the looming possibility of comprehensive tax reform that will have an impact on the philanthropic sector. Lawmakers are currently discussing what a comprehensive overhaul of the nation’s tax code would look like. We need to ensure that whether it’s the extenders package or comprehensive tax reform, Congress maintains incentives for charitable giving, especially during today’s tough economic times. The philanthropic sector, community foundations in particular, can be part of these legislative conversations by being engaged and informed. That’s why it’s important to get your legislative news in New Orleans!
This year’s “Washington Update” session will take place Monday, September 10, 10–11:30 a.m. Register for the Fall Conference by August 3 to take advantage of the $150 early bird discount.
Chatrane Birbal is the director of government relations at the Council on Foundations.
